mmm MADISONPARK

mmm MADISONPARK REAL ESTATE COMPANY LLC Re: August 13, 2012 Dear Partner: Please accept this letter as an update on our project a I am happy to report to you the following : t - We closed on our loan which will allow us to proceed with the build-out of all the units on June 12 ,2012. - The Building Department issued an amended building certificate for us to begin construction of the units. - Please find photos of the sidewalk shed that describes our project. - In conjunction with the sidewalk, our tease website www.TheWhitman.com went live; I encourage you to look it up. A more robust site will be added with the fall marketing season. Already we have had a number of inquiries. - Please find enclosed the floor plans for the residential section of the building. - We hope to have several events this fall in New York for the real estate brokerage community and their clients to introduce The Whitman formally. - I have included photos of the progress of the constructions as well as digital renderings produced by Kelly Hoppen, our interior designer. If you should have any questions, please do not hesitate to contact me. In addition, I would encourage you to come visit the construction site to see our progress. Thank you once again for your trust, David J. Mitchell EFTA01079749 Do4a. “O•titae• WHITMAN Eneiktt E/Sr mlitt7 itIttlet t 317 4555000 SIDE PANEL THREE EXQUISITE FULL FLOOR 5,000* SQUARE FOOT RESIDENCES ONE EXCEPTIONAL 6,250 SQUARE FOOT DUPLEX PENTHOUSE FULL SERVICE DOORMAN BUILDING WHITMAN 99 99 OD Ernitzwitz 71314103 Lanny OINA 1.111115 LI 0 LEI OD KELLY HOPPEN I T. 212.488.8660 FRONT PANEL HYOANT WHITMAN MP:Mt/444M' thitnr 1347 4545550 SIDE PANEL EFTA01079750 b TERIORS IV KELLY HOPPEN 1ONOON CONTACT US T. 212.488.8660 rippu9v1.khydr441 MELANIE LAZENBY DINE LEWIS r L L IN I WHITMAN II IA1174 L A Collection of Three Exquisite Full Floor 5,000+ Square Foot Residences One Exceptional 6,250 Square Foot Duplex Penthouse Full Service Doormen Building EFTA01079751 r ra• ...F. ay. C1711= t-7-- 0 7 L - PI DIMMI119, OAR) UM:NM .'0/YON[ PR & FLO LCCORIII 0,01 12 urCK-o. 16 1. 4.- tatcc,..ou EFTA01079752 PLANISCAL0 In PI A3 DkC STCHILI •NFINVOAK OW I} PS WO.* t 20).•F•10 0018 00 EFTA01079753 EFTA01079754 EFTA01079755 EFTA01079756 EFTA01079757 EFTA01079758 EFTA01079759 tilUS VinI IN IN E i 1 i I I MADISONPARK REAL ESTATE COMPANY LLC Photo #1: 6th Floor - Additions August 13th, 2012 EFTA01079760 NI US MI MADISONPARK REAL ESTATE COMPANY LLC 815 FIFTH AVE NEW YORK. NY 10065 Photo #2: 6th Floor - Additions August 13th, 2012 EFTA01079761 0 I I MADISONPARK REAL ESTATE COMPANY LLC 815 FIFTH AVE NEW YORK, NY 10065 Photo #3: 4th Floor - Framing August 13", 2012 EFTA01079762 MADISONPARK REAL ESTATE COMPANY LLC 815 FIFTH AVE NEW YORK. NY 10065 Photo #4: Basement — Utilities Installation August 13th, 2012 EFTA01079763 rinE MADISONPARK REAL ESTATE COMPANY LLC 1.1 ■I NEW YORK. NY 10065 815 FIFTH AVE Photo #5: Front — Sidewalk Shed EFTA01079764